News: Vivo to invest Rs 4,000 Cr in a new plant in India, to generate 5,000 jobs

Vivo to invest Rs 4,000 Cr in a new plant in India, to generate 5,000 jobs

The Chinese smartphone maker will invest Rs 4,000 Cr over a period of four years in a new manufacturing plant in Uttar Pradesh.

Chinese smartphone maker Vivo has pledged an additional investment of Rs 4,000 crore over a period of four years towards opening a new manufacturing plant in Uttar Pradesh. The plant is expected to generate 5,000 jobs in its first phase of expansion.

The company stated that the new 169-acre land has been acquired near the existing 50-acre manufacturing facility in order to help expand its manufacturing capabilities and support its continued growth in the country.

Nipun Marya, Director-Brand Strategy, Vivo India stated, “India is a key market for us, and today we have reiterated our commitment by entering the next phase of growth in India. We're proud that the new plant will offer a major benefit to the surrounding area through high-quality job creation and training opportunities.”

Currently, all Vivo smartphones sold in India are being manufactured at the Greater Noida facility, which is one of Vivo's four manufacturing factories globally. The facility which was set up with an investment of Rs 300 Cr, produces two million units a month, with more than 5,000 people at work.

With the new facility, the smartphone maker aims to double the current production capacity to 50 million units per annum.

Interestingly, this is the second big-ticket investment from a global smartphone maker in the state of Uttar Pradesh. In July this year, South Korean giant Samsung set up one of the world's largest mobile manufacturing facilities in Noida, Uttar Pradesh. It recently also announced plans to hire about 1,000 engineers from top Indian tech colleges including the IITs (Indian Institutes of Technology) in order to strengthen its research and development facilities in India. The mobile and electronics company plans to take this number up to 2,500 engineers for R&D by 2020.